When calculating a mortgage with taxes and insurance, remember that your real monthly mortgage payment is more than the loan itself.
For example. on a $400,000 home with 20% down at a 7.24% rate, principal and interest come to about $2,181 per month. In addition to that, add about $333 for property tax at a 1% rate and $208 for homeowners insurance, and the payment is about $2,722.
AdvertisementUse the free calculator below to see your own number with taxes and insurance included.
It also adds PMI when you enter a PMI rate (common when your down payment is under 20%) and shows how the payment splits into each part.
Free Mortgage Calculator With Taxes and Insurance
Enter your numbers
The purchase price of the home, before your down payment.
Cash you pay up front, as a dollar amount or a percent of the price. Type in either box and the other updates. A larger down payment means a smaller loan and a lower monthly payment.
Enter dollars or a percent of the price. Change either one and the other updates.
The yearly interest rate on your loan. Use the rate in your lender’s quote if you have one.
Freddie Mac 30-year average, Oct 29, 2026
How many years you will take to repay the loan. Shorter terms have higher payments but less total interest.
Yearly property tax as a percent of the home price. Your county assessor can tell you the exact rate.
Use your county’s rate for a better estimate
Your yearly homeowners insurance premium in dollars. Get a quote for the home to be accurate.
NerdWallet 2026 national average for $400,000 of coverage
Private mortgage insurance, as a percent of the loan per year. Usually needed when you put down less than 20%. Leave 0 if you do not need it.
Enter your lender’s rate if your down payment is under 20%; leave 0 if none
Monthly homeowners association dues in dollars. Leave 0 if the home has none.
Leave at 0 if none
Your inputs
| Home price | $400,000 |
| Down payment | $80,000 (20%) |
| Interest rate | 7.24% |
| Loan term | 30 years |
| Property tax rate | 1.0% |
| Homeowners insurance | $2,490 a year |
| PMI rate | 0% |
| HOA dues | $0 a month |
Estimated monthly payment
$2,722
Loan of $320,000 with 20% down
| Principal and interest | $2,181 |
| Property tax | $333 |
| Homeowners insurance | $208 |
| Mortgage insurance (PMI) | $0 |
| HOA dues | $0 |
| Loan amount | $320,000 |
| Total interest over the loan | $465,086 |
This is an estimate, not a loan offer. Your lender’s numbers will differ.
To save your estimate: press Ctrl+P (Windows) or Cmd+P (Mac) and choose Save as PDF. Only the results print.
Home-Buying Budget Checklist
Tick each item as you finish. You are ready to talk with lenders when the counter reaches 10.
What PITI Includes
| Part | What it pays for |
|---|---|
| Principal | The amount that pays down your loan balance |
| Interest | The lender’s charge for the loan |
| Taxes | Property tax bills from your county or city |
| Insurance | Homeowners insurance, and PMI if your down payment is under 20% |
Some lenders collect the tax and insurance parts in an escrow account. In that case your lender pays the bills for you, and your payment can change when a bill changes.
Example Payments at Today’s Rate
These examples use 20% down, a 30-year loan at 7.24%, a 1% property tax rate and $2,490 a year for insurance. Change the numbers in the calculator to match your own.
| Home price | Loan (20% down) | Principal and interest | Property tax | Insurance | Total per month |
|---|---|---|---|---|---|
| $300,000 | $240,000 | $1,636 | $250 | $208 | $2,093 |
| $400,000 | $320,000 | $2,181 | $333 | $208 | $2,722 |
| $500,000 | $400,000 | $2,726 | $417 | $208 | $3,350 |
| $600,000 | $480,000 | $3,271 | $500 | $208 | $3,979 |
Today’s Mortgage Rates
Freddie Mac’s Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage averaging 7.24% and the 15-year averaging 6.60% on October 29, 2026. A lender’s quote for you depends on your credit score, down payment and loan type, so treat the average as a starting point and check the current survey before you decide.
How to Estimate Property Tax
Property tax is set by your local government, so it varies a lot from one county to the next. LendingTree’s analysis of Census Bureau American Community Survey data found a median annual property tax of $3,489 for homeowners with a mortgage in 2024. In its metro examples, rates ranged from 0.44% of home value in Phoenix to 2.00% in Buffalo.
- Find the tax rate. Look up your county assessor’s site or the current bill on the listing.
- Multiply by the price. A 1% rate on a $400,000 home is $4,000 a year, or about $333 a month.
- Expect a reassessment. The bill for a new owner can be higher than the seller’s, so ask your agent or the assessor how it works locally.
How to Estimate Homeowners Insurance
NerdWallet’s 2026 analysis of pricing from more than 100 insurers puts the national average at $2,490 a year for $400,000 in dwelling coverage. By state, the average ranges from $900 in Hawaii to $7,255 in Oklahoma. Your cost depends on the home’s age, location, coverage and claims history, so get at least two quotes before you finalize the budget. If you live in a flood zone, ask about flood insurance, which standard policies do not cover.
PMI and Your Down Payment
Private mortgage insurance protects the lender when your down payment is under 20%. The CFPB explains three rules that end it:
- You can ask to cancel in writing when your balance reaches 80% of the home’s original value, if you are current on payments and meet your lender’s other conditions.
- It ends automatically when your balance is scheduled to reach 78% of the original value, if you are current.
- It ends at the midpoint of the loan term if it has not ended earlier, which is the month after the 180th payment on a 30-year loan.
FHA loans use a different system called mortgage insurance premium, so ask your lender which applies to you.
Loan Limits to Know
FHFA set the 2026 baseline conforming loan limit for a one-unit home at $832,750 in most of the country, up $26,250 from 2025. Loans above the limit are jumbo loans, and the limit is higher in some high-cost areas. Confirm the limit for your county with your lender.
Ways to Lower Your Monthly Payment
- Raise your down payment. It reduces the loan and can remove PMI.
- Shop lenders. Compare Loan Estimates from at least three lenders on the same day.
- Compare terms. A 15-year loan has a higher payment but far less total interest.
- Shop insurance. Quotes for the same coverage can differ widely.
- Appeal an unfair assessment. If your assessed value looks too high, ask the assessor how to appeal.
- Look at the full price. A lower tax area or a home with no HOA can beat a cheaper list price.
Mistakes to Avoid
- Budgeting only for principal and interest. Taxes and insurance can add hundreds of dollars a month.
- Forgetting HOA dues. They count toward your monthly housing cost.
- Using an old rate. Rates move weekly, so update the number.
- Spending every dollar on the down payment. Keep cash for repairs and closing costs.
- Ignoring escrow changes. Plan for your payment to shift when bills change.
Frequently Asked Questions
How do I calculate a mortgage payment with taxes and insurance?
Add four parts: principal and interest, property tax, homeowners insurance, and mortgage insurance if your down payment is under 20%. Divide the yearly tax and insurance bills by 12, then add them to the monthly principal and interest. The calculator above does this for you.
What does PITI stand for?
PITI stands for principal, interest, taxes and insurance. It is the full monthly housing payment most lenders use when they decide how much you can borrow.
How much is homeowners insurance per month?
NerdWallet’s 2026 data puts the national average at $2,490 a year, about $208 a month, for $400,000 of dwelling coverage. Costs range from about $900 a year in Hawaii to more than $7,000 in Oklahoma, so get a quote for your own address.
How much is property tax on a house?
It depends on your county. LendingTree’s analysis of Census Bureau data found a median of $3,489 a year for homeowners with a mortgage in 2024. Ask the county assessor or check the listing for the current bill, since a sale can change the assessed value.
What is escrow?
Many lenders collect your tax and insurance money with each payment, hold it in an escrow account and pay the bills for you. Your total payment can change when taxes or insurance premiums change, even with a fixed-rate loan.
Do I need PMI?
Usually yes on a conventional loan when your down payment is under 20%. Under the federal rules the CFPB describes, you can ask to cancel PMI when your balance reaches 80% of the original value, and it ends automatically at 78% if you are current on the loan.
What interest rate should I use?
Use the rate in a lender’s written quote. For a quick estimate, Freddie Mac’s weekly survey showed a 30-year fixed average of 7.24% and a 15-year average of 6.60% on October 29, 2026. Rates change often.
Does a bigger down payment lower my payment?
Yes. It shrinks the loan, so principal and interest fall, and at 20% or more you avoid PMI on most conventional loans. Property tax and insurance depend on the home, not the down payment.
What is the conforming loan limit?
For 2026, the baseline conforming limit for a one-unit home in most of the country is $832,750, according to FHFA. Larger loans are called jumbo loans and can have different rates and rules.
Is this calculator a loan offer?
No. It gives an estimate from the numbers you enter. Your lender’s Loan Estimate will show your actual costs. This page offers general information, not financial advice.
Conclusion
The best mortgage estimate includes every part of the payment: principal, interest, taxes and insurance. Enter your own numbers in the calculator, compare a few price and down payment options, then ask lenders for written Loan Estimates before you commit.
Related Reading
Sources: Freddie Mac, Primary Mortgage Market Survey; NerdWallet, Average Home Insurance Cost; LendingTree analysis of Census Bureau data, via Mortgage Professional America; CFPB, PMI cancellation and termination bulletin; FHFA, 2026 conforming loan limits. Estimates only, not financial advice.